Auto Trading % above or below last close

I don’t like to place market orders on monday morning when using Trade for my portfolios especially for small cap stocks. I use Interactive Brokers, generally I will enter a limit order 1-2% higher than the previous close for a buy or 1-2% lower for a sell order. Which means I have to punch in the calculations into my calculator and then manually change all of the limit prices before I send the Trade order. Is there an order type that would do this automatically? Sometimes the bid ask spreads can be quite large so I am not comfortable placing an order based on the spread however I would really like to automate my process as monday mornings can be hectic entering numerous orders. Any suggestions would be greatly appreciated or perhaps Port123 is working on a solution already?

I often use relative offset orders with limits in TRADE. I manually type in the limit prices using a screen that calculates the prices for buy and sell orders. I then change these to GTC orders in IB and then manually update the limit prices. My intent is to get filled aggressively without taking liquidity and without getting pwned.

It would be nice to be able to automate these limit prices using a model and real time data in TRADE.

Hello David I tried a small buy order using the relative offset order. I placed the order before the open at a price around 1% higher than the last close. However, The fill price I received was above the open price? Perhaps this is useful for trading throughout the day. It was worth a try, thanks.
I prefer to trade at the open price but I am trying to protect myself from over paying for a small cap stock that could open with a huge gap over the previous close price.
Hopefully Port123 will add a limit order that can be adjusted to a % above or below the previous close- I think that would accomplish getting most fills at the open price with some protection from large up/down open gaps.